Wells Fargo analyst Andrew Casey raised his price target for Eaton to $90 from $85 after the company announced intent to separate approximately $1.85B revenue, and outlined its expectation to hold earnings and cash flow flat during a three-quarter contraction. The analyst views the business separation positively with anticipated modest value creation and more significant upside driven by new Eaton valuation re-rating if the post-separation revenue mix can demonstrate earnings and cash flow resiliency during a recession. Casey reiterates an Outperform rating on the shares.